The global emotion detection and recognition market size was US$ 22.3 billion in 2021. The global emotion detection and recognition market size is forecast to reach US$ 104.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 18.2% during the forecast period from 2022 to 2030.
Emotion Detection and Recognition is a technology that identifies a human's behavior and emotion by using image processing techniques. The software tools used to detect and recognize facial changes can detect even the tiniest alterations. This technique is useful for observing body position, gestures, and emotions such as anger, joy, fear, and melancholy. It's frequent use in intelligence and security systems.
Factors Influencing Market Growth
Impact Analysis of COVID-19
With the introduction of technical capabilities such as facial recognition, speech & voice recognition, biosensing, machine learning, and pattern recognition, the demand for emotion detection and recognition dropped following the breakout of COVID-19. Faces assist people in order to identifying individuals, grasping conversational signs, and making judgments about other’s mental states because they are the primary ways of getting social information about others. When the COVID-19 pandemic hit worldwide, mask-wearing became compulsory, prompting a shift in the way people communicate. As a result, the COVID-19 pandemic had a negative impact on the global market.
Regional Insights
North America had the largest market share in 2021 and is forecast to maintain its dominance during the forecast period from 2022 to 2030. The rising advancement in the Internet of things (IoT), growing trend of wearable devices, and technological advancement offer tremendous opportunities for the emotion detection and recognition market in North America. Rising investments by the government and a surge in demand for enhanced services and security from several industry verticals are forecast to boost the market growth in the region.
The Asia Pacific is forecast to have lucrative growth in the market during the forecast period. There is a growing demand for better technology deployments and initiatives to establish standardized and effective emotion detection and recognition solutions. In addition, the increasing population, developing technological hubs, and the existence of wealthy countries such as South Korea and Japan boost the market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global emotion detection and recognition market are:
Scope of the Report
The global emotion detection and recognition market segmentation focuses on Software Tool, Application, Technology, End-User, and Region.
Segmentation based on Software Tool
Segmentation based on Application
Segmentation based on Technology
Segmentation based on End-User
Segmentation based on Region
